If you own a business, franchised or otherwise, succession planning is key!

If you own a business, franchised or otherwise, succession planning is key. What happens to your business when you’re gone, or disabled or decide it’s time to exit the business and retire….These very important questions are often overlooked by the business owner only to create difficult situations for family members, partners and other stakeholders.
Our article today is presented by Neel Shah or Shah & Associates, P.C. Please free free to contact Neel directly after you read the article and have questions regarding a succession plan for your business

What Are the Key Aspects of Business Succession Planning?
By Neel ShahFounder Shah & Associates, P.C.

Having an estate plan for your business is just as important as having an estate plan for your individual purposes. There are many different components that go into a business estate plan including a will, a living trust, a financial durable power of attorney, a succession plan, a buy/sell agreement, and life insurance.

All of these can be discussed directly with an experienced attorney. Your will and your living trust are the cornerstones of your business estate plan.

A will enables you to name who you wish to receive your assets, including your company, if you wish upon your death. A living trust is similar to a will in that it allows you to decide who will receive your assets when you pass away, but this is a private document that has benefits when compared with a will. A financial durable power of attorney enables you to authorize an agent to act on your behalf if you are unable to do so for yourself.

Your succession plan which might also include considerations of a buy/sell agreement and life insurance is your opportunity to outline what will happen to your company in the future if you were to leave. Many people anticipate that they will continue working in their business forever. However, it can be a big mistake to assume that you will always be able or interested in working on your business. Scheduling a consultation with an estate planning attorney who has familiarity with adapting and creating business succession plans should be the cornerstone of the next steps that you take in planning your company’s future.

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Meet the Author: Neel Shah

My law practice is focused on helping individuals, families & business owners to protect their wealth & their legacy for current & future generations. Estate taxes, lawsuits, poor/inadequate planning, the escalating costs of nursing homes/long-term care are such sources of attack.

My past & present clients include parents, grandparents, children, established corporations, LLCs, individual entrepreneurs, and start-up ventures.

Clients value my diverse training & expertise across the Wealth-planning, Business Law & Real Estate Law disciplines.

I use my skill set to foresee, analyze & implement business-succession techniques for my corporate and individual clients as they initiate different stages of their lives & business ventures. I provide relevant, actionable advice for Estate Planning & Asset Protection strategies for families, business owners & real estate investors so their business actions do not jeopardize their family’s wealth.

Contact Neel Shah: http://lawesq.net/

SUBWAY – A Bite Of The Sandwich From Both Ends?

According to a NY Times interview with Ms. Husler, she said her boss tasked her with specific instructions to find things wrong. “I was kind of his hit man,” she said. Ms. Husler went on to say that Mr. Patel considered his own interests when determining which stores were to be sent into arbitration.

A Bite Of The Sandwich From Both Ends?
By Gary Occhiogrosso – As seen in Forbes.com

Like a “Player/Manager” of a baseball team, there are often conflicts that never seem to settle and resolve. The recent news that Subway, and it’s “Development Agents” are allegedly “pushing out” other smaller Subway operators is not unlike the player/manager deciding to bench a good teammate so he can get more playing time. As a 35-year veteran of the franchised restaurant industry, I know I am not alone in my opinion. You can’t play both sides of the fence then expect not to run up against motives that may sometimes appear to be questionable.
Subway has grown to its behemoth size by employing a program whereby some franchisees are also sales agents and operational support personnel for the parent company. They are titled “Development Agents.” On the surface, it seems like a good idea. It seems to make sense to appoint brethren franchisees to help build out territory by recruiting new owners and then assist them in setting up their shops and growing their business.

Cutting the Sandwich Business Into Pieces
Subway divides its roster of sandwich shops into more than 100 regional territories. These territories are controlled in part by a development agent. The development agents are responsible for recruiting new franchisees and finding & approving buyers for existing shops. As compensation for this sales effort, they receive a portion of the upfront franchise fee for a new shop or transfer fee if it’s the sale of a current location.

Also, for a share of the company’s royalty fee, they are obligated to visit shops and conduct shop audits focused on operational compliance. This inspection task is carried out through the use of inspectors — known as field consultants. The question of conflict comes up when you consider that many of the development agents are also franchisees themselves. As this is the case, it’s hard to separate the idea of running their own shops, and be responsible for inspecting shops which directly compete with them. The question of motive grows more plausible when you add in the fact that these development agent’s shops are self-inspected by their own paid staff members.

Is Rapid Growth Always a Good Thing?
Consider the history of Subway’s voracious appetite for growth and the lack of exclusive territories granted to their franchisees. In my opinion, all franchised units regardless of the brand, should have a protected territory. These protections help prevent the parent company from encroaching on the trade area of an existing operator and hurting their sales. This protection is not the case with many Subway franchises. There is not exclusive territory protection. The location of a new shop is at the discretion of the company. So it should come as no surprise that the brand has overdeveloped in certain territories. These saturated markets are at a point of sales cannibalization. Mr. Deluaca’s dream of 50,000 Subways has now left some franchisees feeling like their local development agents are pushing them out of business to gain market share for themselves.

Case in point, as reported in the NY Times, Subway franchisee Manoj Tripathi felt that someone had a vendetta against him. The 20-year franchisee noted that each time the inspector arrived, she would find more and more minor infractions. Things like fingerprints on the doors or vegetables cut incorrectly or the wrong soap in the restrooms. On one visit, Rebecca Husler, the Subway inspector who worked for Chirayu Patel, a Development Agent in the Northern California region, noticed that a single light fixture needed a new bulb. Mr. Tripathi replaced the bulb before she left; nonetheless, it was a violation. Mr. Tripathi wasn’t overreacting to his feeling of being set up to fail, as it turns out within a year he was terminated, and he lost his shop.

According to a NY Times interview with Ms. Husler, she said her boss tasked her with specific instructions to find things wrong. “I was kind of his hit man,” she said. Ms. Husler went on to say that Mr. Patel considered his own interests when determining which stores were to be sent into arbitration. Mr. Patel made it “very clear that his stores were to pass” and that “the people he wanted out of the system were to fail out of the system.” she said in the interview. The light bulb incident gave her pause to say, “We’re ruining these people.”

Systemic or Isolated?
One of the people on the company side of this debate is Don Fertman. Mr. Fertman is Subway’s chief development officer and a veteran of the company for 38 years. He claims development agents owning restaurants helps give them “a better understanding of all aspects of owning a small business.” He went on to explain that the company reviews the agents’ work and expects them to uphold ethical standards, dealing with violations “on a case-by-case basis.” He continued by saying, “Our business development agents are well-respected members of our business community,” he said. “And when we hear these allegations, I would say that they are false.”

My takeaway is not this stunning revelation of alleged unfair business practices, but instead that it’s taken this many years to consider that Development Agents competing with other franchises might abuse their position when auditing competing shops in their region. As a former franchisor and development consultant, I do see merit for brands to use the development agent system. I believe there needs to be a robust system of oversight by the parent company to prevent abusive business practices by development agents. This is not to say that Subway corporate hasn’t developed a system of checks and balances, but the allegations from its franchise community leave one to wonder how vigorously it is employed.

Given the number of Subway units in the USA, this may only be the beginning from Subway franchisees who feel Subway is taking a bite out their business.

The Growing Appetite That’s Fueling Acai Express’ Success

ACAI EXPRESS A HEALTHY AND DELICIOUS FRANCHISE…While food fads come and go, real trends that point to major shifts in attitudes and behaviors are invaluable cues for entrepreneurs looking for emerging and sustainable business opportunities. “Consumer Trends in Health and Wellness”, published in Forbes magazine reveals “the “new healthy” is a consumer journey of contradiction and discovery: Progressive health and wellness consumers are seeking alternatives to fear-based information, a phenomenon that has been driving wellness views for decades.

(They) are paving the way, sharing their enthusiasm and knowledge with mainstream consumers who are hungry for guidance and direction. As shoppers, progressives are no longer thinking about condition management (lowering cholesterol or blood pressure) or dieting (low fat, low carb) but are focused on real quality food, positive nutrition, fresh, less processed foods, and beverages and fun.” Translation: there is a growing wave of consumers — particularly among Gen Xers and Millennials — who are looking for a change in wholesome eating and are prime targets for the Acai Express experience and a healthy lifestyle brand. Entrepreneur, Hector Westerband, founder of Acai Express, has developed his low entry cost franchise concept to meet the cultural lifestyle change that is underway. With three flexible footprints: brick and mortar venues, trailers and food trucks — and a menu featuring new health-rich options — acai berry and pitaya bowls, smoothies and natural juices — he offers solutions to consumers and franchise owners alike.

Mind and body-pleasing bites, sips, and slurps.
Acai Express’ eye-pleasing colorful bowl menu is an Instagram worthy meal option that satisfies customers with 100% organic acai berries and pitaya, fresh fruit, berries, nuts, grains and an array of toppings. A wholesome smoothie with innovative combinations serves as a convenient, meal-in-a-cup breakfast or anytime boost that helps customers power through an energy lag. Healthy natural juices, recognized for the nutritional value: vitamins, minerals, and antioxidants, make upping the daily fruit and veggie consumption an easy and nutritious choice for active people on the go. Good health to go! Speed and portability rank high in the fast service world. The quick serve model and totally portable menu of an Acai Express franchise are very accessible in this hurry-up world. With franchise opportunities in protected territories now available, finding a healthy meal, snack or meal supplement need not be time-consuming or inconvenient whether home is near the beaches in Puerto Rico or suburban Rockaway, New Jersey.

Too good to pass up!
Given that the average American eats out between 4 and 5 times a week and can choose from hundreds of fast-casual options, it’s significant that Acai Express franchisees report an enviable frequency of visits rates of 2 to 3 times a week. The taste and experience are memorable and consumers are returning to again and again. That’s healthy for the bottom line as well. As consumers of all ages become increasingly aware of the need for healthy and delicious alternatives to the high-fat, high-sodium, high-calorie foods that have dominated the menu of traditional fast-food giants, the small, more nimble quick-service entrepreneur can respond quickly to changing tastes with something new, refreshing and healthy that doesn’t look or taste like the health food of early days. This creates exciting and profitable opportunities for franchisees to be among the pioneers in the healthy lifestyle revolution while enjoying the reassurance of a proven model like Acai Express.

To claim your franchise territory please visit: www.acaiexpressfranchise.com

TOP 10 REASONS TO INVEST IN RIKO’S NOW!

RIKO’S THIN CRUST PIZZA…Franchise opportunities abound in every business category, but entrepreneurs interested in the fast-casual space, and pizza, in particular, should have Riko’s Pizza on their radar as a brand poised for growth and success with ground floor opportunities for franchisees.

1. Pizza is a $50.7 billion dollar*1 American passion
The pizza industry was designated as the fastest-growing segment of fast-casual restaurants in 2017.*2 A Riko’s franchisee buys into a growth business with high consumer demand and a track record of solid growth year-after-year. The opportunity to bring America’s favorite comfort food to a franchisee’s local market ranks high among Riko’s attributes as a new franchisor in this extremely, profitable business category.

2. A proven business concept
The Riko’s business model has been refined over a 7-year period prior to expanding into franchise offerings. Riko’s founders have continually tried and revised products, systems, and operations as they evolved into a turnkey operation. Those hard-earned systems are passed to franchisees as easy-to-follow, foolproof guidelines for consistent results. The simplicity and ease of operations hold opportunity for owners with or without previous restaurant business experience.

3. Flexibility for Franchisees
Franchisees can choose from a flexible footprint that suits urban or suburban venues. The flexible business model is designed to work and succeed in any space. Riko’s fast-casual operation features take-out, dine in and delivery. Riko’s full-service casual restaurant features a family dining experience with a full bar and table service. Owners can purchase single units or multi-unit options that are commensurate with their experience and finances.

4. Multiple revenue streams
Diverse revenue streams including lunch, dinner, and late-night business with takeout, delivery, and fast casual dine in and full-service restaurant and bar options, gift cards and rewards programs offer multiple growth opportunities within a franchise.

5. Quality, quality, quality
Attention to details has made quality a hallmark of Riko’s brand. High-quality ingredients — nothing artificial — proven recipes, simplified menu, first-rate equipment, comfortable, contemporary venue design, staff training ensure business growth and a consistent brand image. Entrepreneurs are buying into a brand associated with quality at every level.

6. Streamlined, state-of-the-art business operating model
Riko’s has set standards and developed systems that are easy to follow and easy to replicate over and over. Pizza franchisees can produce consistent, great results. Both franchisees and their future customers are assured of the quality food and service that launched Riko ’s original success in three Connecticut locations. Pizza franchisees are armed with the tools and knowledge to produce consistent, great results. Riko’s is a turn-key business model that works across all processes. The goal: keep things simple and do them the best they can be done.

7. Traditional family values that resonate with consumers
Riko’s core philosophy: respecting family, serving great simple food with a family-friendly ambiance, offers an appealing alternative in an ultra-fast food world. The Riko’s guest experience is warm and casual, fast without being harried. It’s a comforting experience that engenders customer loyalty and on-going, multi-generational business.

8. Comprehensive training & support
A good franchise offering includes support and training . That’s why Riko’s consulted and hired industry experts to develop a first-class training program. A five to six-week long training program — with modules at the company modern training center and owner’s location — takes franchise owners through all phases of the business; covering all the components necessary to effectively and efficiently manage a Riko’s Franchise business. A full suite of manuals provides on-going reference and instruction for owners.

9. Owners with passion
As a franchisor with a passion for growth and quality, Riko’s future is guided by passionate, involved owners with a hands-on approach to day-to-day business as well as an eye on long-term growth strategies. The active 360º business outlook ensures Riko’s is prepared to adapt, adjust, and seize new opportunities as they arise. The formula is set, but it’s constantly fine-tuned for success.

10. Community-centric focus
The success of the Riko’s original locations is grounded in community involvement. Riko’s mission in all franchise venues is to be part of local family life. Franchisees are trained to be local in their location and engage in sponsoring local youth sports teams, supporting school events, donating pizza to community events and more as a means to building relationships and thanking customers for their loyalty.

For more information please visit: www.rikosfranchise.com

Getting New Franchisees Off to a Great Start

GETTING FRANCHISEES OFF TO A GREAT START…The likelihood of a franchise owner “going rogue” when a company is transparent in its expectations lessens. Franchisees know what is expected of them. 

 

Getting New Franchisees Off to a Great Start
Prepare them for business ownership through the onboarding and training process.

By Gary Occhiogrosso – Managing Partner of Franchise Growth Solutions, LLC.
Photo by Perry Grone on Unsplash

When training new franchisees, there is a term that is used regularly but has received a lot of criticism “Onboarding” Many Franchisors believe that the “onboarding process” begins once a candidate is awarded the franchise. I coach this process is a different way. At Franchise Growth Solutions we know that the onboarding process begins from the very first interaction the company has with the franchise prospect.

That said, let’s take a step back and first explore the goal of proper onboarding. In my opinion, the main focus is to create value for the brand in the minds eye of the candidate. Without value and respect for the brand, all the training in the world will not produce a franchisee capable of living up to his or her full potential as the operating franchisee.
Although franchisee training is often seen as a means to an end because of how quick paced it is and how much information is packed into training sessions, in and of itself training is certainly not the sole answer in producing quality franchisees. Through the years I’ve trained franchisors to understand that in order to successfully orientate a new franchisee; Mission, Culture and Core Values of the brand must be communicated to and embraced by the franchisee. Here again I cannot emphasize enough that franchisors must start building value and respect for the brand during the recruitment phase. It is during that time, potential franchisees and the franchisor should engage in meaningful, mindful conversation so that the franchise candidate understands what is expected of them and the Franchisor should understand what the franchisee expects in return. It’s a simple (but not easy) process that can lead to rejecting a candidate and losing the deal. However, trust me when I say, losing that candidate is a far better outcome than bringing the wrong franchisee into the system only to wreak havoc, compromise brand standards and lobby additional, otherwise satisfied franchisees into their negative mindset.
Successful onboarding and training requires transparency, consistency and follow up.

The likelihood of a franchise owner “going rogue” when a company is transparent in its expectations lessens. Franchisees know what is expected of them. In addition, the Franchisor’s support personnel should be out in the field in front of the franchise owner, coaching, counseling and working with the franchisee to achieve optimum results, financially as well as making sure the business is providing options consistent with the franchisees lifestyle goals. Supplying ongoing training that places resources within reach of the franchisee is not only vital at the onboarding phase but throughout the lifecycle of the business relationship.

This approach helps franchisees adapt as the brand grows and systems evolve. Preparing franchisees to deal with the issues that may come up along the way is key to building a successful franchise system. Ultimately solid onboarding and training should expose the franchisee to detailed information so the franchisee knows what the company expects and they can live up to the “Brand Mission”. Initial and ongoing training should support the idea that following the system is the most important aspect leading to the success of the business. This approach puts franchisees in a better position to make sound decisions concerning the business with little outside assistance and with little room to “reinvent the wheel”.

Franchisees need to be held accountable for holding the same high standards as the franchisor. In order to do this, your company culture, value proposition, training program, operations manuals, job aids and other franchisor supplied tools should be carefully develop, tested, reviewed and updated as necessary. The onboarding process and training program is never “done”. As the franchisor it is you job to insure that franchisees have access to the tools and support needed to grow and thrive.
Get new franchisees off to a great start through a sound onboarding process that starts at the first hello. Recruit and vet your candidates thoroughly, be certain they are a fit for you brand culture and buy into your mission statement. Provide them with the tools and support needed to navigate system changes as they occur. Give the franchisees the foundation they need to grow, develop, and succeed as business owners. An excellent franchise system, built this way from the start makes it easier for franchisees to overcome challenging situations as they occur, and they will occur.
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About the Author:
Gary Occhiogrosso is the Managing Partner of Franchise Growth Solutions, which is a co-operative based franchise development and sales firm. http://www.frangrow.com
Their “Coach, Mentor & Grow Program” focuses on helping Franchisors with their franchise development, strategic planning, advertising, selling franchises and guiding franchisors in raising growth capital.
Gary started his career in franchising as a franchisee of Dunkin Donuts before launching the Ranch *1 Franchise program with it’s founders. He is the former President of TRUFOODS, LLC a 100+ unit, multi brand franchisor and former COO of Desert Moon Fresh Mexican Grille. He advises several emerging and growth brands in the franchise industry
Gary was selected as “Top 25 Fast Casual Restaurant Executive in the USA” by Fast Casual Magazine and named “Top 50 CXO’s” by SmartCEO Magazine. In addition Gary is an adjunct instructor at New York University teaching Restaurant Concept & Business Development as well Entrepreneurship. He has published numerous articles on the topics of Franchising, Entrepreneurship, Sales and Marketing. He is also the host of the “Small Business & Franchise Show” broadcast in New York City and the founder of http://www.FranchiseMoneyMaker.com

PRESS RELEASE – Franchise Growth Solutions Exhibits Innovative Franchise Brands.

COME OUT TO THE INTERNATIONAL FRANCHISE SHOW…Franchise Growth Solutions Expands Internationally as Exhibitor and Speaker at The International Franchise Expo May 30 to June 01, 2019 at New York’s Javits Center

“We’ll be showcasing some of the most innovative and exciting franchise brands of the year.” Gary Occhiogrosso – Founder, Franchise Growth Solutions, LLC.
NEW YORK MAY 27, 2019

Franchise Growth Solutions LLC, the New York-based strategic planning, franchise development and sales organization, headed by franchise industry expert, Gary Occhiogrosso, will exhibit at the International Franchise Expo, May 30 – June 01, 2019, at the Jacob K. Javits Convention Center in New York City.

Mr. Occhiogrosso, a 30-year veteran of single and multi-unit franchise development and sales, was instrumental in the launch and growth of nationally recognized franchises including Ranch *1, Desert Moon Fresh Mexican Grille, and brands found under the 100+ unit multi-brand franchisor, TRUFOODS, LLC.

From booth #646, Franchise Growth Solutions will showcase some of 2019’s hottest franchise opportunities: Acai Express®, Riko’s® Thin Crust Pizza, Balloon Kings®, and MATTO Espresso® to an estimated 20,000 entrepreneurs and future business owners. Occhiogrosso revealed, “We’ll be showcasing some of the most innovative and exciting franchise brands of the year.”
With additional credentials as an in demand public speaker on franchise success, and as an adjunct instructor at NYU, and Contributor to Forbes.

Occhiogrosso will also moderate two panel discussions entitled. At the first discussion “ Private Equity and Franchising” scheduled for Thursday May 30th at 10am, Occhiogrosso will host a discussion between franchisors and private equity investment professionals on how to find capital, the best ways to position franchises for growth/investment, and a checklist of what is required for strategic partnership in the eyes of the investment community. “This is my favorite venue to present this panel, we bring together Emerging Brands and Private Equity Investors to discuss ways to capitalize on the fired-up equity markets in Franchising,” added Occhiogrosso. The second event titled “Using Your Digital to Sell Franchises” is scheduled for Thursday May 30th at 4pm and will cover how Franchisors can maximize their franchise solicitation by tapping into the vast array of tools now available in the digital world. Occhiogrosso said “This panel will feature experts in the Internet marketing industry who will share tips and best practices designed to create accelerated lead generation for their franchise sales effort.” The events are free as part of the attendance fee for the Franchise Expo.

The International Franchise Expo in New York City is the largest franchise show of its kind in the country. The three-day show traditionally attracts over 20,000 attendees and over 400 national and international franchise opportunities.
ABOUT FRANCHISE GROWTH SOLUTIONS, LLC

Franchise Growth Solutions, LLC is a strategic planning, franchise development and sales organization offering franchise sales, digital advertising, brand development, strategic planning, real estate selection, architectural development, vendor management, lead generation, and PR including social media. Franchise Growth Solutions’ proven “Coach, Mentor & Grow®” system puts both franchisors and potential franchisees on the fast track to growth. Membership in Franchise Growth Solutions’ client portfolio is by recommendation only.

For information on Franchise Growth Solutions or any of its franchise opportunities, please contact Gary Occhiogrosso at (917) 991-2465 OR email at [email protected]

Creating Sensible Employee Policies When Building Your Company

WHEN BUILDING A COMPANY, YOUR CORPORATE POLICIES… will mold and shape the culture and mission of your brand. In addition, your team members performance and the aspect of becoming an “employer of choice” to attract the “best and the brightest” are directly connected to the polices you create for your organization. Warren Cook,President & CEO of SymbianceHR offers his thoughts on best practices when developing policies for your company.

Development of Policies that Make Sense
– By Warren Cook, President & CEO

In my experience, small businesses owners care tremendously about their staff, so much so, that at times they develop practices that can later place them at risk and expose them to liability for discrimination. For example, paying an employee for a “few weeks” when they are out sick or taking care of a family member but then when a new employee wants time off since they are not friends, they are told use their paid time off or the absence is unpaid.

Maternity leave is another great example, as I have observed everything from 100% pay the entire absence without a policy written to working from home during the maternity leave, all while trying to provide FMLA coverage (job protection) when the company only had 8 employees. At the same time, when a male employee decided they wanted time off to be with their spouse and newborn, they were denied the request.

In another situation, an employee was in an auto accident, and the owner felt bad, so they continued their compensation at 100% for several months. Yet another employee, later in the year, requested time off because they heard about the other employee getting paid, and wham, problem for the employer because they didn’t want to pay this employee.

Inconsistency in practices is the road to discrimination, even if unintended. These employers and many other examples I could share, also neglected other means to provide the support to their employee they desired, without breaking the bank and destroying company cash flow. For example, implementing a Short Term Disability program, employer or employee paid, could allow for an offset of the cost in your current practice. Why? You pay an insurance premium instead of the full cost of the employee compensation. Let us not forget benefit premiums during an employee absence, that also can become a double hit on the employer with poor leave policies in place.

I encourage you to strategically plan for the various situations that can occur with your workforce, and then determine what is the most cost effective and beneficial method to provide the desired support to your workforce. It may be insurance, it may be time off, it may be alternative work schedules, it may be remote work, or it may be another solution all together. Remember, setting precedence using a discriminatory approach can expose your business to tremendous risk and liability even though your have great intentions. Seek the right advisor to help guide you through the development of legally compliant and non-discriminatory solutions to take care of your workforce with policies and programs that make sense. Visit: https://www.symbiancehr.net/

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About the Author: Warren Cook
Warren is a conscientious human capital management leader dedicated to providing coaching and guidance to business owners and leaders in support of their continued success. With over two decades of practical industry experience across the public and private sector, and various industries from pharmaceutical to financial to telecommunications, Warren enjoys applying his depth and breadth of industry and academic (BS/MBA/MS) experience to solving the workforce management challenges of today. With a proven track record of implementing successful solutions to business challenges by effectively orchestrating change initiatives, strategic planning & execution, system and process engineering, people development, and modeling leadership behaviors to motivate the workforce, Warren is uniquely competent and capable of driving continued business success for your organization.

Warren enjoys giving back to the community, and accomplishes this passion through his workshops and training to non-profit organizations and industry associations across the region and across the country. To further this ambition Warren served the Delaware HR & Business Community by presenting at the DE SHRM 2017 & 2018 Annual Conferences and was the lead presenter at the July 2018 DE SHRM Diversity & Inclusion conference.

Warren authored the book “Applicant Interview Preparation – Practical Coaching for Today” and provides training and coaching on this topic in the local community at schools and non-profit organizations to support the development of the next generation of professionals.

If you want to benefit from the experience and capabilities Warren has to offer, you can reach him by email at [email protected] or by phone at 302-276-3302. Visit: https://www.symbiancehr.net/

How Do I Get The Money to Start My Own Business and How Much Money Do I Need.

HOW TO FINANCE YOUR BUSINESS IDEA…Our friends at Benetrends have covered this topic perfectly. When you have a great idea for a business but not the cash to get it going. This article will offer helpful tools to get that business started and growing.
Photo by Mick Haupt on Unsplash

Entrepreneurial Dilemma: Do I Have Enough Money to Start My Own Business?
Author Benetrends

You have come up with a great idea for your own business, one that you are confident will be financially, personally, and professionally fulfilling. You are ready to start developing your business plan, doing market research, and testing marketing ideas.
How much money will you need to bring this idea to fruition? What kind of finances will you need to get things started and how much will you need on a monthly basis going forward?

These financial questions are often ones that keep entrepreneurs up at night, worrying about how much money they will need to be viable and successful.

It is a classic entrepreneurial dilemma: do I have enough money to start my own business?

Fortunately, most up-front and ongoing costs can be identified at the start of your ideation. Doing the work to build out your budget will bring you peace of mind and a foundation to use when pursuing small business funding. Here is a closer look at the framework you should use to determine your business costs.

What will it cost to open your business? Find out with our business planning calculator.Twitter Tweet This
Why Knowing Startup Costs Is Important

Startup costs give you and others a clear idea of what it will take to operate your business. Too many small-business owners underestimate their costs and end up playing catch up, undermining their growth or forcing them out of business. There are several benefits to projecting these costs:

Profit Analysis. Knowing what your costs are, along with your revenue projections, helps you estimate your profitability, including when you are likely to break even and how long you may be operating at a deficit.
Investor Expectations. If you are seeking investments to help finance your business, investors will want to see your startup cost analysis.
Loan Approvals. Lending officers, like investors, will want to know what it takes to open the doors and keep them open when considering your loan application.
Tax Planning. Anticipating your business costs helps you and your accountant plan your tax strategy by understanding what will be deductible when it comes time to file your taxes.
Peace of Mind. There is stress in starting a business. A clear-eyed understanding of your costs eliminates one uncertainty in the process.

Questions to Answer Before Building Your Cost Estimate…Read the entire article here:
https://content.benetrends.com/blog/entrepreneurial-dilemma-do-i-have-enough-money-to-start-my-own-business

Franchise Marketing – Do’s & Don’ts

FRANCHISE MARKETING – DO’S & DON’TS…Today’s featured post is courtesy of Harold Kestenbaum. Harold is one of the Top Franchise Attorneys in the country. He works exclusively with franchisors and has been involved in some of the most important franchises ever launched such as Sbarro, Ranch *1 and Five Guys. In this “double article” Harold shares his insights on franchise marketing and recruiting new franchisees.

The Dos and Don’ts of Franchise Marketing Materials
By Harold Kestenbaum

As an entrepreneur, it can often be worth your while to consider franchising your business. When you have a great product or service, franchising is an excellent way to create a new revenue stream, while increasing brand awareness. As with any new venture, the key to successfully franchising your business is laying the groundwork for a thriving enterprise. This begins with your franchise marketing materials.

Your franchise marketing materials are the key to attracting like-minded individuals to work with your business and grow your brand. It is important to remember though, that you must be careful with what you do and don’t say in these documents, as you want to remain legally compliant and truthful in your endeavor.

DO explain your brand, mission, and infrastructure. In your franchise marketing materials, it is vital to explain who you are as a company, how you operate, and why someone should want to work with you.

DON’T promise your franchisees any specific profits or financial gain. Since every market is different, it is important to refrain from making promises about a franchisee’s total profit or financial gain from buying into your business.

DO set the right restrictions. Your marketing materials should establish policies you have on hiring, training, proprietary processes, etc. but it should also allow the franchisees some freedom to make the business their own.

DON’T neglect to screen franchisees. Just as you would interview potential new hires for your location, you will want to screen franchisees once they have inquired about this opportunity. You want to build a network of people dedicated to your brand and mission.
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Franchise Marketing Materials 101: Establishing Your Recruitment Website
By Harold Kestenbaum

When you have made the decision to franchise your business, you will want to put a lot of time and money into your franchise marketing materials, especially at first. In order to grow your brand and find potential franchisees, these marketing materials must be appealing, straightforward, but also compliant with the law. As you begin working on your marketing materials and franchise recruitment website, it is important to work with a seasoned franchise attorney and remember these key tips.

Register your franchise: Before advertising your franchise to a particular state, it is important to know that many states require a franchise to be registered prior to the sale of any franchise location, but also any offer of franchise. This means you must take care of all necessary registration before launching your website in a given state or sending out marketing materials.

Understand the laws of advertising: Not only do you have to account for the franchise laws that apply to your business, but you also have to consider the other laws which affect advertising. These can include intellectual property laws, unfair competition laws, and deceptive trade practice laws. Your franchise attorney can review all marketing materials to ensure that you are not infringing on any other company’s rights and that you are in full legal compliance.

Provide clear, accurate information: To successfully gain leads from your website and marketing materials, it is critical for franchisors to provide clear, accurate information which provides potential buyers with enough evidence to make a purchase decision. This information should outline the requirements for buying into the franchise, as well as the type of support franchisees will receive once they are a part of the program. You will want to avoid words and phrases such as success and profit, so as not to mislead buyers about their expectations of buying into your franchise. You want to give franchisees truthful information, without making any specific claims about financial earnings, especially since every market is different.

Stay consistent: In all your marketing materials, you want to stay consistent in the way you represent your brand. You will want to avoid making promises that you cannot fulfill once a buyer signs a contract and purchases a franchise under your name. By staying consistent in all your content, you can avoid potential legal roadblocks down the road.
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About the Author
HAROLD L. KESTENBAUM is a franchise attorney who has specialized in franchise law and other matters relating to franchising since 1977. From May 1982 until September 1986, Harold served as franchise and general counsel to Sbarro, Inc., the national franchisor of more than 1,000 family-style Italian restaurants and, was a director from March 1985 to December 2006. From September 1983 to October 1989, he served as president and chairman of the board of FranchiseIt Corporation, the first publicly traded company specializing in providing business franchise marketing and consulting services and equity financing to emerging franchise companies, which he co-founded. Harold has authored the first book dedicated to the entrepreneur who wants to franchise his/her business, called So You Want To Franchise Your Business. It is a step-by-step guide to what a businessperson needs to know and do to properly roll out a franchise program. Harold’s book is available at major book stores and on Amazon.com or you can click here for more info on his book So You Want to Franchise Your Business.

Fast casual falafel specialist, Taboonette launches franchise prototype, building momentum for nationwide expansion

TABOONETTE: THE FALAFEL GROWS UP
Franchising Case Studies

Fast casual falafel specialist, Taboonette launches franchise prototype, building momentum for nationwide expansion

Taboonette is a fast casual, Middleterranean™ restaurant that is revolutionizing the falafel shop. Inspired by a trip which co-owner, Danny Hodak, took to Israel, the elevated shop brings the healthy diets of the Middle East and Mediterranean and fuses them with chef-driven food and American style.

With recipes curated by classically trained, renowned Israeli chef, Efi Naon, the eatery takes a modern approach to food created in the age-old, wood-fired taboon ovens for which Taboonette is named. Opening eyes to gourmet Mediterranean food, the shop offers locally sourced and sustainable meals in a rustic chic atmosphere that fosters social consciousness and brings people together.

Now a standout amongst New York’s popular upscale fast casual restaurants, Taboonette will build on its seasoned approach to success as it begins nationwide franchise expansion.

Taboonette currently has one corporately-owned location in New York, with a track record for success which will lead the brand to impressive growth. The popular Union Square hot spot will open its second corporate location in Q1 of 2019 with two additional restaurants slated to open by year-end.

Read the entire story here:
https://www.globalfranchisemagazine.com/case-study/taboonette-the-falafel-grows-up?fbclid=IwAR28S3I7xrJrUne_np2mTgZ2SDakVoVSCV4YpLJcX9ecxH3JTR1LjpDz0Ok

At a Glance:

Name of franchise: Taboonette Middleterranean Kitchen™
Established: 2012
Investment range: $350,500-$637,400
Minimum required capital: $200,000
URL: http://taboonettefranchise.com/
Contact [email protected]
(917) 991 2465